Special Report 4/2019

2019-04-13 00:00:00

Financial audit on the Special Account for Research Funds of University of Ioannina

The main objectives of the audit were to examine: I. The correct and accurate representation of the data, facts and transactions in the financial statements. II. If the Internal Control System complies with the legislative and regulatory framework and is functioning properly and gives reasonable guarantees of: a. the legality and regularity of underlying transactions, b. the safeguarding of assets and information and c. the prevention, detection, correction, investigation and monitoring of fraud and irregularities. III. If the transactions are legal and regular and comply with the principle of sound financial management.

The main conclusion of the audit is the absence of procedures for monitoring the financial management of the Special Account’s work as a result of weaknesses in the internal control system and the shortcomings and complexity that exists in the legislative and regulatory framework. This has an impact on the proper appearance of the funds in the Special Account’s financial statements.

The most important findings identified concern: travel expenditures (outside the legislative framework), b. the payment of additional fees, c. non-legal direct contract award, d. the absence of an internal control unit, e. the absence of a clear legislative framework for the recruitment of staff.

Main recommendations: a. promoting cooperation with the bodies responsible for setting up an internal control unit, b. strengthening cooperation with the bodies responsible for establishing and collecting revenue from deductions on gross revenues of Teaching Research Staff, c. establishing a clear legislative recruitment framework, d. establishing systematic procedures for monitoring assets.

The Hellenic Court of Audit will carry out a follow-up audit.

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